HEMPALTA

Hempalta Corp. (TSXV: HEMP) has released its initial financial results as a public entity and provided a corporate update. Revenue for the quarter ended March 31, 2024 was up 30% over the previous year. In light of the company’s recent acquisition of a controlling interest in UK-based Hemp Carbon Standard Inc., HEMPALTA noted the sequestering of more than 12,000 tonnes of CO2 in 2023, with a projection to quadruple that this year. 

Hemp Carbon Standard focuses on harnessing the natural carbon sequestration properties of industrial hemp to address climate change. This new entity provides HEMPALTA with an additional revenue stream on top of the consumer packaged goods and commercial products divisions managed from its processing plant in Calgary.

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Calgary’s HEMPALTA, an innovative AgTech company, has commenced trading on the TSX Venture Exchange under the symbol ‘HEMP’, boasting a $17.5 million market cap. This milestone follows an RTO with Trail Blazing Ventures and highlights the company’s unconventional approach in a tech industry trend towards privatization.

HEMPALTA, recognized for its sustainable industrial hemp processing, converts hemp straw into high-value products through its patented HempTrain technology. Its diverse product range, including building materials and animal bedding, is available through major online and retail channels. HEMPALTA’s public listing promises to attract investors committed to sustainable solutions and bolster its growth strategy.

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Calgary-based HEMPALTA is forging a strategic alliance with UK’s Hemp Carbon Standard, a major player in hemp-derived carbon removal credits. This collaboration underscores HEMPALTA’s dedication to sustainability while diversifying revenue streams.

The company, recognized for its innovative hemp processing technology, has secured a spot on Calgary.tech’s 2023 watchlist. Additionally, HEMPALTA is a two-time finalist for the Calgary Chamber’s small business innovation award.

This partnership aims to leverage hemp’s carbon-absorbing potential, benefitting both the environment and regional farmers in Western Canada.

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